Risk Assessments

We Identify processes and situations that may cause harm, particularly to people.
Determine how likely it is that each hazard will occur and how severe the consequences would be.
Decide what steps the organization can take to stop these hazards from occurring or to control the risk.
It’s important to note the difference between hazards and risks. A hazard is anything that can cause harm, including work accidents, emergency situations, toxic chemicals, employee conflicts, stress, and more. A risk, on the other hand, is the chance that a hazard will cause harm. As part of your risk assessment plan, you will identify hazards but then calculate the risk or likelihood of the hazards occurring.

The goal of a risk assessment plan will vary across industries, but overall, the goal is to help organizations prepare for and combat risk. Other goals include:

Providing an analysis of possible threats
Preventing injuries or illnesses
Meeting legal requirements
Creating awareness about hazards and risk
Creating an accurate inventory of available assets
Justifying the costs of managing risks
Determining the budget to remediate risks
Understanding the return on investment

Businesses should perform risk assessment before introducing new processes or activities, before introducing changes to existing processes or activities (such as changing machinery), or when the company identifies a new hazard.

The steps used in risk assessment form an integral part of your organization’s health and safety management plan and ensure that your organization is prepared to handle any risk.  

5 steps in the risk assessment process
Before you start the risk management process, you should determine the scope of the assessment, necessary resources, stakeholders involved, and laws and regulations that you’ll need to follow. Then proceed with these five steps.

Identify the hazards.
Determine who might be harmed and how
Evaluate the risks and take precautions
Record your findings
Review assessment and update if necessary


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